Corning (NYSE:GLW) Trading Down 2.5% – Here’s What Happened
by Kim Johansen · The Markets DailyCorning Incorporated (NYSE:GLW – Get Free Report) fell 2.5% during mid-day trading on Tuesday . The company traded as low as $128.41 and last traded at $130.16. 12,085,229 shares were traded during trading, an increase of 31% from the average session volume of 9,204,675 shares. The stock had previously closed at $133.46.
Analyst Ratings Changes
GLW has been the topic of a number of research reports. Citigroup raised their price target on Corning from $102.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, January 29th. Argus upped their price target on shares of Corning from $68.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Barclays set a $100.00 price objective on shares of Corning in a research report on Thursday, January 29th. Weiss Ratings cut shares of Corning from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, January 27th. Finally, Zacks Research cut Corning from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 21st. Ten research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $114.25.
Get Our Latest Stock Report on Corning
Corning Price Performance
The company has a market capitalization of $111.67 billion, a price-to-earnings ratio of 52.75, a P/E/G ratio of 2.31 and a beta of 1.13. The company has a fifty day simple moving average of $99.36 and a two-hundred day simple moving average of $86.00. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.04 and a current ratio of 1.59.
Corning (NYSE:GLW – Get Free Report) last posted its quarterly earnings results on Wednesday, January 28th. The electronics maker reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.01. Corning had a net margin of 10.21% and a return on equity of 18.72%. The company had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.35 billion. During the same quarter last year, the firm posted $0.57 earnings per share. Corning’s revenue was up 13.9% on a year-over-year basis. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. As a group, research analysts anticipate that Corning Incorporated will post 2.33 earnings per share for the current year.
Corning Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Friday, February 27th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.12 annualized dividend and a dividend yield of 0.9%. Corning’s dividend payout ratio (DPR) is presently 60.87%.
Insiders Place Their Bets
In other news, VP John Z. Zhang sold 1,531 shares of the firm’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $133.75, for a total value of $204,771.25. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Li Fang sold 9,797 shares of Corning stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $113.51, for a total value of $1,112,057.47. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 95,687 shares of company stock worth $11,249,008. Corporate insiders own 0.32% of the company’s stock.
Institutional Investors Weigh In On Corning
A number of large investors have recently made changes to their positions in the company. Brighton Jones LLC boosted its holdings in shares of Corning by 46.0% during the fourth quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock worth $319,000 after purchasing an additional 2,114 shares during the period. Retirement Planning Co of New England Inc. purchased a new stake in Corning in the 1st quarter worth approximately $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Corning by 9.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker’s stock valued at $2,962,000 after buying an additional 5,522 shares during the period. Sivia Capital Partners LLC acquired a new stake in shares of Corning during the 2nd quarter valued at $401,000. Finally, Envestnet Portfolio Solutions Inc. grew its holdings in shares of Corning by 1.3% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 16,623 shares of the electronics maker’s stock valued at $874,000 after acquiring an additional 214 shares in the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.
About Corning
Corning Incorporated is a global manufacturer specializing in specialty glass, ceramics and related materials and technologies. Headquartered in Corning, New York, the company supplies engineered materials and components used across multiple industries, including consumer electronics, telecommunications, automotive emissions control, pharmaceutical and life sciences, and industrial and scientific applications. Corning emphasizes materials science and precision manufacturing to develop durable, high-performance glass and ceramic products.
Key product lines include specialty display glass used by television and mobile-device manufacturers, cover glass marketed under well-known trade names for smartphones and tablets, and optical fiber and cable and related hardware for telecommunications networks.